Jamaican$ falls again – Tuesday

Trading in the foreign exchange market resulted in the Jamaican dollar losing some more value on Tuesday against all the majors it trades with. The market closed with dealers buying the equivalent of US$29,032,584 and selling US$51,852,594, in contrast to US$53,873,364 purchased and US$48,342,459 sold on Monday.
In US dollars trading, dealers bought US$25,427,548 compared to US$49,748,240 on Monday, as the buying rate for the US dollar fell 15 cents to end at $121.54. A total of US$47,856,185 was sold versus US$46,610,741 on Monday, the selling rate rose 13 cents to $122.46. The Canadian dollar buying rate rose $1.92 to end at $94.48 with dealers buying C$1,390,937 and selling C$3,959,309, at an average rate that climbed $2.72 to $97.50. The rate for buying the British Pound rose by $2.04 to $171.55 for the purchase of £1,651,855, while £264,931 was sold, as the rate rose $1.49 to $172.79. At the end of trading, the selling rate for Euro, rose 42 cents to close at J$138.59, from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.79 for a rise of 37 cents on Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$192,442 being bought, while US$470,505 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Tuesday are, a rise of $2.45 in the lowest selling rate of the US dollar to $102.23, a fall of $1.10 in the highest buying rate for the Canadian dollar to $97.18, a rise in the highest selling rate by $1.86 to $99.92, while the highest selling rate for the British Pound rose by 86 cents to $180.90.